One Difference Between Monopolistic Competition and Pure Competition Is That

question 10

Multiple Choice

One difference between monopolistic competition and pure competition is that:

• A) products can be standardized or differentiated in pure competition.
• B) there is some control over price in monopolistic competition.
• C) monopolistic competition has significant barriers to entry.
• D) firms differentiate their products in pure competition.

---

Definitions:

Salaries and Wages Payable

Represents liabilities for amounts owed to employees for work performed but not yet paid.

Property Plant and Equipment

Long-term tangible assets owned by a company and used in its operations to generate income, including buildings, machinery, and equipment.

Assets

Resources owned or controlled by a business, expected to bring future economic benefits.

Correcting Entry

A journal entry made in an accounting ledger to correct a previously made error.